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we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> it is time. it is time for the lightning round! we play until we hear this sound, and then the lightning round is over! are you ready, skedaddy? let's start with rob in new york. >> caller: how you doing, jim. my question about skechers? >> sell, sell, sell. it's sink'ing like a stone. i don't want skechers or deckers. >> ken in california, what's up? >> caller: thank you for your help and guidance. love your show. jim, abbott labs, is it overbought at this poin
we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp....
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Oct 11, 2012
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. >> -- could be more efficient. 50 times of government. of government entities versus one. i don't know. >> that's a good question. good question. mike, in terms of some of the options activity, what are you seeing in the sector? >> it's interesting if you take a look at a name like hca as a hospital, that would be one of the bigger losers. what we're talking about here for romney election, it has absolutely skyrocketed. probably in the low 30s at the end of september and up around 50. and, you know, put open interest is probably 30% higher than call open interest, that's highly unusual for pretty much any stock. >> and we should remind everybody, you can catch more health care coverage at healthy week.cnbc.com, and tune in for coverage of the vice presidential debate. let's also talk coal stocks because coal and coal stocks have been on fire, forgive the pun. since it was perceived that mitt romney was gaining some momentum over president obama. and of course, after he said i like coal. so what do we see here? mike in terms of the options run we've seen in these stocks. >>
. >> -- could be more efficient. 50 times of government. of government entities versus one. i don't know. >> that's a good question. good question. mike, in terms of some of the options activity, what are you seeing in the sector? >> it's interesting if you take a look at a name like hca as a hospital, that would be one of the bigger losers. what we're talking about here for romney election, it has absolutely skyrocketed. probably in the low 30s at the end of september and up...
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Oct 12, 2012
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government still in charge. >> have financials topped out for the year, jim? >> no. look, i think what's going to happen is, people are going to come back, the group is this the group -- historically inexpensive. if we get more sprints and more work days, we get more global business coming back, i think people will say, wait a second, why did i get rid of the business? wells fargo, by the way s going to own america's mortgage market. is there a point where you have 40% of the mortgaging services and don't make a lot of money? 30% of the mortgage market, never supposed to happen. the founding fathers are rolling over in their grave wells fargo was able to get 30%. they're rolling in their grave -- yesterday i was talking about land's grave and mal's grave, and now the founding fathers graves. >> go wherever you need to go. >> thank you. >> you're welcome. >> wells was disappointing. i would love to see wells was great but then i would be dissemb dissembling. >> the financials is a group trading a 20% over the market. to your point, despite the run, trading at a discou
government still in charge. >> have financials topped out for the year, jim? >> no. look, i think what's going to happen is, people are going to come back, the group is this the group -- historically inexpensive. if we get more sprints and more work days, we get more global business coming back, i think people will say, wait a second, why did i get rid of the business? wells fargo, by the way s going to own america's mortgage market. is there a point where you have 40% of the...
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Oct 10, 2012
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this is a name, they're getting sued by the government and the stock is still flat to up. that's impressive. >> we'll have more "fast money" tonight at 5:00. follow me on twitter
this is a name, they're getting sued by the government and the stock is still flat to up. that's impressive. >> we'll have more "fast money" tonight at 5:00. follow me on twitter
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Oct 11, 2012
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i think we'll see the same kind of drama we saw around government shutdown where is they tiptoe and dance all the way up until the last minute and then get it done. we already know they're having meetings right now figuring out the end to that crisis. so i think that we're going to build it up and build it up and it's all going go away. i really think that what we're going to see with this market right now is a continuation of this slow, steady, up trend. there's no real reason right now to take it out. >> rick, what do you think? how about the 30-year treasury auction today? a lot soft, but i guess that would be expected at that yield, right? >> yeah, well, i think it was a bit soft for sure. the post-auction, all the auctions being done really gave us a big rally afterwards. the best way to get a dugout filli ined with varying personalities is to pick a new manager. i think if we pick a new manager, that will lead into the fiscal cliff being changed in a way that won't give us the big hiccup in the market. i also agree with jim though. i think what could happen is if mitt wins, there's
i think we'll see the same kind of drama we saw around government shutdown where is they tiptoe and dance all the way up until the last minute and then get it done. we already know they're having meetings right now figuring out the end to that crisis. so i think that we're going to build it up and build it up and it's all going go away. i really think that what we're going to see with this market right now is a continuation of this slow, steady, up trend. there's no real reason right now to...
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Oct 10, 2012
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not the one by the federal government, but one stress test nonetheless. among other findings here, the failing banks would have to raise an additional $25 billion in capital to achieve a passing grade. >> joining us now with exclusive details is matthew anderson. he's part of the company that conducted the study. how do you come up with this? what methodology did you use? >> i'm glad you outlined that our stress test is just that, it's our application of an economic scenario, a downside economic scenario to bank earnings and bank capital. so what we did is we took the sort of variables that the federal reserve was forecasting in their c-card stress testing of the largest banks and applied that same sort of scenario to the entire universe of banks. >> are you tougher than the feds? >> we're probably tougher in some areas. we don't have all the data at our fingertips that they have, so they have a bit of an information edge. but i think we're pretty harsh. >> now, the banks that you identified, are they small banks, are they banks that everybody knows, are
not the one by the federal government, but one stress test nonetheless. among other findings here, the failing banks would have to raise an additional $25 billion in capital to achieve a passing grade. >> joining us now with exclusive details is matthew anderson. he's part of the company that conducted the study. how do you come up with this? what methodology did you use? >> i'm glad you outlined that our stress test is just that, it's our application of an economic scenario, a...
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Oct 10, 2012
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business and the federal government, and that he saw the real benefits. he concluded there on the idea that it was a collaboration, basically, between the federal government and a predecessor of boeing that put a person on the moon 40-some years ago. and those are interesting points, a theme that he has struck many times and it is one of the things that i think has entered into this life-long democrat's relationship with the current administration. it's where he has parted company with them. >> it's going to be interesting. he says he's not interested in running for public office. but you just wonder whether or not he wouldn't accept a treasury secretary position if indeed one was offered under either administration. >> yeah. he was certainly explicit about that in his comments in "vanity fair" magazine, that he didn't want it, "i shall not seek, nor will i accept --" >> but on the other hand hank paulson didn't want it either but he took it because of the financial situation the united states was in at the time. >> exactly. >>> now to bertha coombs who's
business and the federal government, and that he saw the real benefits. he concluded there on the idea that it was a collaboration, basically, between the federal government and a predecessor of boeing that put a person on the moon 40-some years ago. and those are interesting points, a theme that he has struck many times and it is one of the things that i think has entered into this life-long democrat's relationship with the current administration. it's where he has parted company with them....
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Oct 11, 2012
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>> i think romney's right on track when he starts to say i know how to govern. and you govern by talking with the other side. and when he said during the debate that he was the
>> i think romney's right on track when he starts to say i know how to govern. and you govern by talking with the other side. and when he said during the debate that he was the
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Oct 9, 2012
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. >> about the ecb gives back the cash, the german government pay backed ecb. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back door, through the central banks. >> what about spain, michelle some people were posing the question that the greece certain lives the story of the day today with the protests, with ms. merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today. shares
. >> about the ecb gives back the cash, the german government pay backed ecb. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back...
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Oct 12, 2012
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the spanish government sits there and over time likely yields will come done. it may take six months or more, but you look at the cds spread which is have come right in, clearly people feel -- >> we're looking at moody's coming out and it looks like spain will probably be rated as sub investment grade or junk. could that be a trigger some because then actually there will be tirms who have to get out of the debt regardless of whether they think there's a bailout. >> and certainly we've had an internal discussion around that and i think the effect of that is as to make it difficult for t the yields to go up. >> all right. giles will stick around. plenty more thoughts in just a bit. >> we're just over an hour and, what, 16 minutes in to the trading day. european stocks right now are weighted to the town side a little bit. around about 6:4. as far as ftse 100 is concerned, not major losses. just down six points is where we stand at the moment. ibex is up nearly half of 1%. we saw spanish bond yields, as well. aches yields w auction yields were up for the three year
the spanish government sits there and over time likely yields will come done. it may take six months or more, but you look at the cds spread which is have come right in, clearly people feel -- >> we're looking at moody's coming out and it looks like spain will probably be rated as sub investment grade or junk. could that be a trigger some because then actually there will be tirms who have to get out of the debt regardless of whether they think there's a bailout. >> and certainly...
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the government is going to spend 50% of the money. that will not go down. asia is a slower but it is nothing mystical or different than your read about. united states is fundamentally a stronger than people think, in my opinion. in latin america, some are better and some are slower. >> asia use same syncline about. -- you seem sanguine. >> this in my opinion, but i. they will meet their objective of 7%-8% higher. they are doing this to avoid social unrest and change the infrastructure. it change will be coming and it will be smoothed and continue to form the policies of the government. they have $3 trillion in reserve and a lot of capabilities to maintain growth. they did that that month, literally. they knew what they want to accomplish. i do not think i can do that 10 years from now. they're not building a lot of bridges to nowhere. i think it will work in the immediate term. >> there's a lot of talk about africa. in latin america, we have seen signs of pretty robust growth. >> we're opening grove -- stores and we are in there on the ground. we go there f
the government is going to spend 50% of the money. that will not go down. asia is a slower but it is nothing mystical or different than your read about. united states is fundamentally a stronger than people think, in my opinion. in latin america, some are better and some are slower. >> asia use same syncline about. -- you seem sanguine. >> this in my opinion, but i. they will meet their objective of 7%-8% higher. they are doing this to avoid social unrest and change the...
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governments don't have the same money. and number two is the competition from natural gas at least in north america. >> so becky has a view, she's talked about it on the show, about natural gas exporting and what that -- >> i've been warned. >> i will admit, i don't know how strongly i feel about it, but i do have torn feelings when you start thinking aboutle natural gas, exportation, i realize it's a great thing and it would help boost some of the prices so that people who have been investing the money to do it makes it more worth their time. but then there's also the argument that we want to be energy independent and maybe the best way to do that is to hold on to our own natural resources like china would do. they look at that time veit ver differently. >> our natural gas market is constrained by demand, not supply. the only thing that we're not independent in really essentially is oil. and i think we'll see there will be a report from the department of energy just after the election about this very question of exports.
governments don't have the same money. and number two is the competition from natural gas at least in north america. >> so becky has a view, she's talked about it on the show, about natural gas exporting and what that -- >> i've been warned. >> i will admit, i don't know how strongly i feel about it, but i do have torn feelings when you start thinking aboutle natural gas, exportation, i realize it's a great thing and it would help boost some of the prices so that people who...
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Oct 11, 2012
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so it is always our friendly government. i don't control that and we are doing quite well in spite of that. we're pretty bullish going forward. regulation would be dodd-frank, qm and qrm. do i believe they'll be resolved some time in the first half of next year. >> but an environment in which the current regulations stand, just assume that it is status quo for the foreseeable future, will that prevent the housing recovery from being as robust as it had been during the peak times? >> well certainly stronger with the right regulation but what's interesting is the recovery is occurring in spite of that. that's a very strong test amount as to the strength of housing right now. >> you've cut a lot of costs as you've had to over these difficult years that the company's been owned by apollo. are you done with that? >> we pride ourselves on being very efficient from a cost perspective. in a recovery not only do you get the macro, the deleveraging, you get the benefit after substantially different company -- >> a lot of that was job
so it is always our friendly government. i don't control that and we are doing quite well in spite of that. we're pretty bullish going forward. regulation would be dodd-frank, qm and qrm. do i believe they'll be resolved some time in the first half of next year. >> but an environment in which the current regulations stand, just assume that it is status quo for the foreseeable future, will that prevent the housing recovery from being as robust as it had been during the peak times? >>...
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they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground moving. it's not what people will vote on. for romney it's an effort to press a leadership advantage which may be one of the things that move the numbers for him after the debate. he looks strong on the stage with president obama. he took the fight to obama. obama was a little bit more passive. but ultimately the economy, i believe, carl, is going to be what drives the result. >> if anyone who watched snl over the weekend knows the president wasn't that passive. thanks, john, we'll see you later, john harwood in washington. netflix is up 10%, 30%
they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground...
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that is the kind of government that's crazy. if you want me to go on, i'll give you another example. the president's employment bill, the president's employment bill had provision 2a that i read myself that said it shall be an unlawful employment practice for any employment agency or any employer to fail to hire or to refer for hiring any person based upon their status as unemployed, and such unlawful practice in 2b would have been a violation of the civil rights act of 1964, and the equal employment opportunity act. those things would have immediately discouraged anybody from hiring anyone because they would have been sued no matter what. this kind of stuff is outrageously bad government by any standard whether you're a democrat or republican. it doesn't make any sense. >> steve, ron baron is standing by. he's been a long-term investor and he's got a question for you as well. ron? >> hi, steve. thanks for coming on the show. >> hi, ron. it's a pleasure. nice to see you. >> great to see you, too. so i've been friends with steve
that is the kind of government that's crazy. if you want me to go on, i'll give you another example. the president's employment bill, the president's employment bill had provision 2a that i read myself that said it shall be an unlawful employment practice for any employment agency or any employer to fail to hire or to refer for hiring any person based upon their status as unemployed, and such unlawful practice in 2b would have been a violation of the civil rights act of 1964, and the equal...
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Oct 10, 2012
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melissa: jamie dimon hits back over the government's new lawsuit against jpmorgan. is the megabank being unfairly prosecuted? former fdic sheila bair joins us with reaction coming up next. >>> plus the next% breakthrough in energy tapping into one of the country's biggest volcanoes to generate power. the head of the company behind the project will join us in a fox business exclusive. more "money" coming up, don't go away. ♪ . 0t[h7 ♪ . melissa: jpmorgan's ceo jamie dimon turns the tables ann goes on the offense today in washington, d.c. at the council on foreign relations. dimon said his company lost up to $10 billion as a result of the government asking him to buy the teetering wall street firm, bear stearns, during the financial crisis. take a listen. >> when you want to come after us down the road for some of the bear stearns did that jp was asked to do this by the federal government. we were able to show about the economic financial effects of bear stearns. i cost 5 to $10 billion on bear stearns now, put it in the unfair category? hey, i'm a big boy. i wil
melissa: jamie dimon hits back over the government's new lawsuit against jpmorgan. is the megabank being unfairly prosecuted? former fdic sheila bair joins us with reaction coming up next. >>> plus the next% breakthrough in energy tapping into one of the country's biggest volcanoes to generate power. the head of the company behind the project will join us in a fox business exclusive. more "money" coming up, don't go away. ♪ . 0t[h7 ♪ . melissa: jpmorgan's ceo jamie dimon...
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that is what you give to the federal government every year for ten years. crazy. robert: i am robert gray. consumer sentiment has jumped to a five year high. university of michigan preliminary october reading unexpectedly rose to the highest level since september of 2007. americans are more optimistic about the u.s. economy. apple is set to unveil its many ipad at an invitational event october 23rd according to all things digital. that would be days before microsoft unveils its new surface tablet and latest operating system windows 8. the national highway traffic safety administration is investigating honda's pilot suv for breakage use. is covered 88,000 pilots in the 2005 model year. investigators will determine if the problem is bad enough for honda to recall the suvs. no crashes or injuries have been reported. that is the latest from the fox business network giving you the power to prosper. [ male announcer ] let's say you need to take care of legal matts. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, l
that is what you give to the federal government every year for ten years. crazy. robert: i am robert gray. consumer sentiment has jumped to a five year high. university of michigan preliminary october reading unexpectedly rose to the highest level since september of 2007. americans are more optimistic about the u.s. economy. apple is set to unveil its many ipad at an invitational event october 23rd according to all things digital. that would be days before microsoft unveils its new surface...
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how did the people and government respond? first, the government increased security around our embassy and promised to assist with repairs to the school which they have done. then they pub blickly committed to provent violent groups and from becoming a save hivene for terrorism. following through is essential. those responsible for the attacks must be brought to justice. the government must provide security for diplomatic missions and create a secure environment for foreign residents and visitors and the rule of law must extend to everyone throughout the country. the country's leaders also took to the airwaves to newspaper pages even facebook and twitter to denounce the attacks and the extremist i'dology behind them putting their own political capital on the line. the foreign minister flew to washington to stand with me and publicly condemn the violence. so we continue to support those changes that are occurring in libya and those leaders and citizens who understand what is expected of them if they are to fulfill their own hop
how did the people and government respond? first, the government increased security around our embassy and promised to assist with repairs to the school which they have done. then they pub blickly committed to provent violent groups and from becoming a save hivene for terrorism. following through is essential. those responsible for the attacks must be brought to justice. the government must provide security for diplomatic missions and create a secure environment for foreign residents and...
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in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> i'm always telling you you need to own some gold. that's been real good advice, given the tremendous breakout the precious metal. you have had to buy actual gold bouillion. if you don't want to lug around the gold bars, there is the eft, which mirrors the price of gold. gold miners, too many ways they can screw up. these companies are dealing with problem after problem after problem, which is why i stopped recommending them ages ago. but last week for speculation friday, i highlighted a company that represents the middle ground, a way to profit from increased gold production, and the company is sandstorm gold. it invests in gold
in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> i'm always telling you you...
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what does the government do? charlie: you believe michael steinberg, put on leave, you believe this is a big sort of step in the fed's continuing investigation of steve cohen and his potential -- and whether he committed insider-trading? >> a massive set. look at the case all along. they have been arresting and prosecuting people and going up the chain. people i talked to in the justice department cyber is the last stop on the train. charlie: they will give up? >> they won't give up. they might get him conscience avoidance. if they can't get steinberg to get the peace to prove that, and actually had knowledge of forethought and committed it and traded on it that he knew it was wrong, perhaps conscious avoidance -- charlie: he knew -- [talking over each other] charlie: denied any wrongdoing. mr. steinberg has not been indicted and neither have been charged with a civil crime but we do know a lot of people have been charged in this investigation and you say one tactic they can take is let's go and say you should ha
what does the government do? charlie: you believe michael steinberg, put on leave, you believe this is a big sort of step in the fed's continuing investigation of steve cohen and his potential -- and whether he committed insider-trading? >> a massive set. look at the case all along. they have been arresting and prosecuting people and going up the chain. people i talked to in the justice department cyber is the last stop on the train. charlie: they will give up? >> they won't give...
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to govern in the central bank you to corporations. we could lose five or $6 billion just like that if things go bad. if i am sitting down here and i am sure i will be dragged down to congress again. how could you not acknowledge and what kind of risk managed to do have? we made a decision. it may be the wrong decision but one we made a stupid error. this is deliberate and we are going to stay and hope we will be doing it in 50 years and we know the risk we are bearing right now and we try to moderate them but we need to be a good corporate citizen. if you go-round the world by the way -- i am lucky. the reputation in the knowledge that jpmorgan has end the relationship inside these companies goes back 100 years so we can't cut and run. and we are not going to. we will try to manage exposures but we will be long-term investors. >> i will try to get as many people as i can. aberdeen in the front row here. >> i am with the catholic trust group. mr. dimon when you look at jpmorgan and lou preston and jpmorgan, what is the difference and i
to govern in the central bank you to corporations. we could lose five or $6 billion just like that if things go bad. if i am sitting down here and i am sure i will be dragged down to congress again. how could you not acknowledge and what kind of risk managed to do have? we made a decision. it may be the wrong decision but one we made a stupid error. this is deliberate and we are going to stay and hope we will be doing it in 50 years and we know the risk we are bearing right now and we try to...
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government reference riskless rate is under 2%. that is a bargain. melissa: i was interested to see the latest trading volumes. you are talking about the average investor walking away. in august, it was down 37%. that is year over year. that is compared to last august. when we see that the markets are up 9% for the year, i wonder if the individual investor is walking away from returns? >> i think so, melissa. the investing class is still undergoing dramatic shock and recovery from it. that is why all of these bond flows continue to go into funds and those fund managers have to go by treasuries at 1.6-1.7 because they have to do something to put it to work. if you believe that interest rates are going to be low for a number of years, and i do, i believe bernanke will do what he says, then stock prices are headed higher. maybe much higher. lori: isn't it a problem then that the fed is manipulating the stock market? therefore, do you have to be a little bit cautious that even though we will be in this accommodative environment for a well, things could t
government reference riskless rate is under 2%. that is a bargain. melissa: i was interested to see the latest trading volumes. you are talking about the average investor walking away. in august, it was down 37%. that is year over year. that is compared to last august. when we see that the markets are up 9% for the year, i wonder if the individual investor is walking away from returns? >> i think so, melissa. the investing class is still undergoing dramatic shock and recovery from it....
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caution on government data as pertains to government jobs. watch from bpt digest. early rally on incomplete information was undone. wasted buying power. the bottom line is this. a lot of static, a lot of white noise in the recent data. use the four, monthly average. you want to do the four-week moving average. when you do that, when you load in the missing data, you're going to see still weekly jobless claims above the trend since 1967. here we've got the tale of two surveys too. we have got two stories from the government on job creation. you can see the swings there. ashley: yeah. >> and disparities there. again once you factor in, you will see it next week, labor department telling fox business we will name the mystery state next week. wall street expects it to be california. we don't know if it is california. again factor in the jobless claims, sticking around 370,000 again. that is above the four-week moving average since 1967. that is how you look at it on my bottom line. ashley: south dakota. >> iowa. who knows. ashley: who knows. lori: serious problem espec
caution on government data as pertains to government jobs. watch from bpt digest. early rally on incomplete information was undone. wasted buying power. the bottom line is this. a lot of static, a lot of white noise in the recent data. use the four, monthly average. you want to do the four-week moving average. when you do that, when you load in the missing data, you're going to see still weekly jobless claims above the trend since 1967. here we've got the tale of two surveys too. we have got...